Virgin Galactic (SPCE) rallies as Richard Branson will fly to space before Jeff Bezos

2 min read | July 02, 2021 07:52 AM PDT | By Kiran Murali

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Virgin Galactic (SPCE) rallies as Richard Branson will fly to space before Jeff Bezos — Image source: NicoElNino, Shutterstock.com

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Summary

The aerospace company’s stock popped 20 percent when the market opened on Friday.

Virgin Galactic will launch next spaceflight on July 11 and its founder Richard Branson would be among the crew.

The space travel company eyes commercial service in 2022.

Virgin Galactic Holdings Inc. (NYSE:SPCE) stock popped 20 percent when the market opened on Friday as the company announced that its next space flight is scheduled for July 11 and founder Sir Richard Branson would be among the crew.

With this schedule, Branson will fly to space before Jeff Bezos. The Amazon chief executive is planning to travel in his Blue Origin’s first crewed spaceflight New Shepard on July 20.

The stock, which ended Thursday’s trading at US$43.19, jumped over 28 percent in today’s pre-market trading. As of 9.36 a.m. ET, Virgin Galactic stock is trading at US$52.08, up 20.52 percent.

Virgin Galactic stock returned 82 percent year to date. It has US$10.39 billion in market capitalization. The share price was between US$14.27 and US$62.80 in the 52-week period.

Virgin Galactic to launch fourth crewed spaceflight

On Thursday, Virgin Galactic said it would launch its fourth crewed test flight on July 11. Apart from two pilots, the SpaceShipTwo Unity will have four mission specialists in its flight.

The company said Branson will be one of the specialists in the flight and he would test the private astronaut experience.

Source: Pixabay

The aerospace company’s commercial space transportation operator license was upgraded by the Federal Aviation Administration on June 25 to allow passengers in its spaceflight.

The license upgrade came after Virgin Galactic accomplished its third spaceflight last month. The third flight, which was launched from New Mexico, reached space at an altitude of 55.45 miles.

The California-based space travel company looks to start commercial service in 2022. It will conduct two more test flights before starting the commercial service.

Meanwhile, Bezos’ Blue Origin has sold one of the seats on New Shepard for US$28 million in an online auction.

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